Is Callaway on the Market? [Update from the Golf Giant on March 30th]
There’s talk that Topgolf Callaway Brands Corp. may have put Callaway up for sale, according to South Korean rumors. The company issued a strong denial. But the stock market movements continue.
There’s speculation that the colossal Topgolf Callaway Brands Corp. may have put Callaway up for sale. Despite the company’s denial of South Korean rumors that surfaced on Wednesday, a potential sale could signify a shift from an entirely American enterprise to a Korean one. If you stick with us till the end, we’ll equip you with all the crucial updates from the week so you can follow the rest of the potential episodes of the season.
THE FACTS
The California-based company, Topgolf Callaway Brands Corp, might be considering selling its Callaway Golf business. The news broke just before 11 AM on March 20 (Seoul time), when the South Korean newspaper, Chosun Daily, reported the exclusive.
Just before 2 PM on the same day in California, the company issued a statement denying any such discussions of a potential sale of the company or its golf equipment business.
[30 MARCH UPDATE]
Since the news broke, the spotlight has been on MODG, the golf giant on Wall Street. Today, it was revealed that Assenagon Asset Management S.A. acquired a fresh stake in the company during the fourth quarter. The fund purchased 656,370 shares valued at approximately $9,412,000. Additionally, other institutional investors have made adjustments to their holdings in the business.
In the meantime, this forceful official statement remains the sole communication from the company on the matter:
